Overseas and beyond in pharmaceutical business

Hi and welcome to this session. We'll be talking today about the overseas and beyond in Pharmaceutical business. My name is Radi Haloub, I'm associate professor and program lead for biotech and pharmaceutical management at UCL Global Business School for Health.

The aim of this session is to introduce you to variations between pharmaceutical companies and the locations in which they operate. So, we define the global versus international strategy in pharmaceutical business. Then, we will also talk about the limitations and motives for global business in pharmaceutical industry.

In here, I'm going to introduce you to these definitions that are important for you to identify and maybe would give you an idea about how international companies, or multinational companies, or global companies might have variations in their operations and their understanding of the business. The international when a significant proportion of operations are outside the home country and these operations are managed as a separate business unit, for example, generic pharmaceuticals that has operation facilities in a different country. That's what we call international, but for the multinational when the company operates in many countries, though it may still have home base. One purpose of such operations is to respond to local demands and that's what we call multinational. That's applicable for some biotech companies, but the global pharmaceuticals are when a company treats whole world as one market and one source of supply with little significant response to local demand and these companies are what we call global such companies they have branded products around the world. There are so many examples that you can identify. Companies might have different manufacturing facilities. These are international firms, but the brand name for a product if you travel across the world and you can ask for a certain brand, you're going to find it, that's what we call global pharmaceutical company.